First Trust Advisors LP Raises Holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB)

First Trust Advisors LP lifted its holdings in Rocket Lab USA, Inc. (NASDAQ:RKLB - Free Report) by 90.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 789,266 shares of the rocket manufacturer's stock after purchasing an additional 374,356 shares during the period. First Trust Advisors LP owned about 0.16% of Rocket Lab USA worth $20,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RKLB. Chicago Partners Investment Group LLC raised its stake in Rocket Lab USA by 0.4% during the 4th quarter. Chicago Partners Investment Group LLC now owns 79,943 shares of the rocket manufacturer's stock worth $2,187,000 after acquiring an additional 334 shares during the period. Wellington Shields & Co. LLC raised its position in shares of Rocket Lab USA by 0.5% during the 4th quarter. Wellington Shields & Co. LLC now owns 74,522 shares of the rocket manufacturer's stock valued at $1,898,000 after purchasing an additional 383 shares during the period. Signaturefd LLC lifted its stake in shares of Rocket Lab USA by 12.2% during the 4th quarter. Signaturefd LLC now owns 6,014 shares of the rocket manufacturer's stock valued at $153,000 after buying an additional 653 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Rocket Lab USA by 3.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 21,747 shares of the rocket manufacturer's stock worth $554,000 after buying an additional 696 shares during the period. Finally, CIBC Asset Management Inc increased its stake in Rocket Lab USA by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 15,078 shares of the rocket manufacturer's stock worth $384,000 after buying an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 71.78% of the company's stock.

Rocket Lab USA Trading Up 2.1 %

Shares of RKLB traded up $0.46 during midday trading on Thursday, hitting $22.25. The stock had a trading volume of 6,444,853 shares, compared to its average volume of 15,484,907. The stock's 50 day moving average is $19.41 and its 200 day moving average is $21.42. The firm has a market cap of $10.09 billion, a PE ratio of -60.17 and a beta of 2.08. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.58 and a quick ratio of 2.16. Rocket Lab USA, Inc. has a 1 year low of $3.66 and a 1 year high of $33.34.

Rocket Lab USA (NASDAQ:RKLB - Get Free Report) last released its earnings results on Thursday, February 27th. The rocket manufacturer reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.01). The business had revenue of $132.39 million for the quarter, compared to the consensus estimate of $130.58 million. Rocket Lab USA had a negative net margin of 51.76% and a negative return on equity of 39.47%. As a group, analysts forecast that Rocket Lab USA, Inc. will post -0.38 EPS for the current fiscal year.

Insider Activity

In other news, insider Frank Klein sold 1,835 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $19.93, for a total transaction of $36,571.55. Following the transaction, the insider now owns 1,417,644 shares in the company, valued at $28,253,644.92. This represents a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 13.70% of the company's stock.

Analysts Set New Price Targets

RKLB has been the subject of a number of recent analyst reports. Citigroup dropped their price objective on Rocket Lab USA from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Stifel Nicolaus lifted their price objective on shares of Rocket Lab USA from $26.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Wells Fargo & Company dropped their target price on shares of Rocket Lab USA from $21.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Needham & Company LLC initiated coverage on shares of Rocket Lab USA in a report on Friday, April 25th. They issued a "buy" rating and a $28.00 price target on the stock. Finally, The Goldman Sachs Group increased their price objective on shares of Rocket Lab USA from $12.00 to $13.50 and gave the company a "neutral" rating in a report on Thursday, January 16th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.25.

Rocket Lab USA Company Profile

Rocket Lab USA, Inc, a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets.